Strategy » Strategies of Change
Why do some corporate transformations fail while others succeed? Explore how leaders can navigate organizations through change.
Firms thrive by embracing change as a forge for stability, creating a path from adaptation to enduring advantage.
Corporate change is notoriously difficult and often fails. One reason is that success is considered to depend only on how change is executed—that is, the quality of “change management.” We argue that change must instead be treated as a strategic problem, varying the approach to change depending on the type of challenge encountered and the internal characteristics of the company.
We attempt to distill the lessons from two truly ambitious projects—NASA’s Apollo program and Pfizer’s Lightspeed project—and show how, to succeed, projects and organizations must resolve the tensions between ingenuity and control.
"Old models of change aren't suited to the reality that we're operating in today."
Instead of defaulting to the standard change management methods, leaders should adopt strategies of change that respond appropriately to the specific characteristics of their change context.
Keep resilience on the transformation agenda. Change programs that prioritize growth, debt reduction, and operational flexibility realize the full value of resilience and build advantage for the next crisis.
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